By Ksenia Steidel
Author: Monique Crapper is a marketing strategist and copywriter with over 15 years of experience helping fintech brands grow and connect with their audiences. Known for combining data-backed strategy with authentic, human-centered storytelling, Monique crafts content that not only informs but also inspires action. Her work turns complex financial topics into engaging, accessible narratives that resonate with real people.
The restaurant industry has been under pressure in recent years. Rising construction costs, unpredictable food supply chains, and shifting consumer expectations have forced operators to rethink how they run their businesses. On Episode 03 Part 1 of the Instant Payments Podcast, host Tal Clark, CEO of Instant Financial, sat down with Kevin O’Bold, Vice President of Finance for Ultra Steak, Inc., to talk about how his company is navigating these challenges while positioning itself for long-term success.
A Legacy Company with a Startup Mindset
Ultra Steak has been a mainstay in the restaurant industry for more than 40 years. Its portfolio has spanned brands like Texas Roadhouse, Aspen Creek Grill, Aspen Tap House, and, most recently, Slim Chickens. But longevity hasn’t slowed the company down.
“I like to explain Ultra Steak as a legacy company acting like a startup,” O’Bold said. “We bring decades of knowledge and experience to the table, but we’re also in high growth mode, owning our own concept and moving out of the franchisee role.”
This balance—leveraging history while building for the future—has become the company’s competitive edge.
Transitioning from Franchisee to Brand Owner
For decades, Ultra Steak operated as a major Texas Roadhouse franchisee before selling those locations back to corporate. That move opened the door for a new chapter.
“It’s a hard transition,” O’Bold admitted. “Texas Roadhouse corporate was best-in-class. But now we manage our own recipes, systems, people, training, and construction. All the in-house knowledge has to be elevated. It’s been a big challenge, but one we look forward to.”
The transition has allowed Ultra Steak to apply lessons learned as a franchisee to its own concepts, especially Aspen Creek Grill, while also diversifying into fast casual with Slim Chickens.
Tackling Today’s Industry Challenges
Like most operators, Ultra Steak is confronting familiar challenges—magnified in today’s economy.
“Construction costs and site selection make growth difficult,” O’Bold explained. “It’s tough to design smaller, smarter spaces that still meet operational needs.”
Food costs are another ongoing struggle, with unpredictable supply chain shocks ranging from bird flu to herd size declines. “You have to be nimble and react quickly,” he said. “Tight margins make it critical to control what you can.”
Playing the Long Game on Pricing
One area where Ultra Steak stands apart is pricing strategy. While many restaurants have leaned heavily on price hikes to offset inflation, O’Bold is focused on traffic.
“We go after value for our guests and gaining market share,” he said. “Traffic counts are more important than raising check averages, because short-term price wins deteriorate fast. We’re in it for the long haul.”
By holding the line on value, Ultra Steak aims to build guest trust and long-term loyalty—a playbook it first saw succeed at Texas Roadhouse.
Technology Investments That Pay Off
Ultra Steak has also leaned into technology to improve both guest experience and employee satisfaction. One of the most impactful changes has been the rollout of pay-at-table devices.
“Pay-at-table has been a game changer,” O’Bold said. “It increased our table turn times because guests don’t have to wait for a check to be dropped and processed. There’s less cash handling, and we’ve seen a significant lift in tips.”
For employees, that lift translated into more money in their pockets and less friction in the payment process. For operators, faster table turnover meant higher sales potential and greater efficiency. “We expected some benefit, but the boost in tip percentages was more than we imagined,” O’Bold added.
The investment has proven to be one of those rare win-wins: guests enjoy convenience, staff see higher earnings, and restaurants unlock more throughput.
Looking Ahead
Ultra Steak’s story is a reminder that resilience in the restaurant industry comes from blending legacy wisdom with startup energy. By investing in its people, maintaining a value-first pricing strategy, adapting quickly to industry headwinds, and leveraging technology like pay-at-table, the company is proving that even in uncertain times, growth is possible.
As O’Bold summed it up: “We’re in it for the long game.”
🎧 Listen to the full episode on the Instant Payments Podcast at instant.co/podcast or wherever you get your podcasts.
